My father exchanged his ancestral property of agricultural land with 3rd party. can the received land considered to be ancestral property or self acquired?
A user is asking for clarification on whether land received in exchange for ancestral agricultural land can be considered ancestral property or if it becomes self-acquired. The user believes that since the exchange was made on behalf of the ancestral property, the new land should also retain its ancestral status. They are seeking opinions on this matter.
The considerationfor the contract was the exchange on behalf of the ansestral property, therefore the new property will also be counted as an ansestral property.
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